<strong><em>ICP price shows a bullish reversal after a long-coming downtrend with a double bottom breakout in an attempt to reach $10.</em></strong>

<strong>Key technical points: </strong>
<ul>
 	<li>ICP prices have jumped by 17.04% in the last 24 hours.</li>
 	<li>The double-bottom breakout rally surpasses the $7 mark.</li>
 	<li>The 24-hour trading volume of ICP is $197 Million, indicating a rise of 25%.</li>
</ul>
<h2>Past Performance of ICP</h2>
The <a href="https://www.cryptoknowmics.com/news/icp-technical-analysis-buyers-ready-to-reclaim-the-10-threshold/">ICP</a> price action forms a consolidation after a long-term correction phase after taking support at the psychological mark of $5. Moreover, the increasing bullish influence creates a double bottom pattern to restart the bullish journey. In the last five days, the market value has appreciated by 32% resulting in the double bottom breakout and surpassing the $7 mark.

<img src="https://s3.tradingview.com/snapshots/k/K6TAD1Fq.png" alt="TradingView Chart" />

<strong>Source- </strong><a href="https://www.tradingview.com/x/K6TAD1Fq/" target="_blank" rel="noopener">Tradingview</a>
<h2><span style="font-weight: normal">ICP Technical Analysis </span></h2>
The ICP price shows an increase in intraday trading volume, increasing the likelihood of a prolonged uptrend. Hence, traders can find bullish entry spots at the current market prices. The MACD indicator shows a long-coming trend in the fast and slow lines sabotaging multiple bearish attempts to reclaim the momentum. However, the increasing trend in the positive histograms avoids the bearish crossovers. Hence, the indicator showcases an increase in the buying pressure.

The RSI indicator shows a sudden spike in the underlying bullishness following the bullish divergence in the double bottom pattern. Hence, the indicator takes a bullish side and forecasts a prolonged uptrend. In a nutshell, the ICP price action analysis Supports the possibility of a bullish trend sustaining about the dollar seven mark to reach the overhead resistance at the psychological mark of $10.
<h2><span style="font-weight: normal">Upcoming Trend </span></h2>
If the ICP prices sustain above the $7 mark, the unleashed bullish momentum will drive the market price higher to the $10 mark. On the contrary, if the prices reverse from the $7 level, it will nullify the bullish theory and potentially drop the prices to the $5 support level.

<strong>Resistance Levels: </strong>$8 and $10

<strong>Support Levels:</strong>$6 and $5

ICP Technical Analysis: Will The Breakout Rally reach $10?

ICP Technical Analysis shows a bullish reversal after a long-coming downtrend with a double bottom breakout, in an attempt to reach $10.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

ICP Technical Analysis: Will The Breakout Rally reach $10?

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